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The table below shows the sales of widgets (in units) over the past 5 years. Using exponential smoothing with a smoothing constant of 0.8, what
The table below shows the sales of widgets (in units) over the past 5 years. Using exponential smoothing with a smoothing constant of 0.8, what is the forecast for next year? The initial forecast (for 5 years ago) was 1,200 units.
Forecast:
Time | Sales |
5 years ago | 1,260 |
4 years ago | 1,220 |
3 years ago | 1,040 |
2 years ago | 1,060 |
Last year | 1,270 |
(Do not round intermediate calculations, round your final answer to the nearest whole number.)
Forecast __________
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